Bitcoins Supply On Exchange Tightens: Could a New Bull Run Be Just Weeks Away?

According to market signals that have historically preceded major price rallies, Bitcoin is gearing up for its next potential bull run. A CryptoQuant analyst named ‘Tarek’ has recently highlighted key indicators in a post on the CryptoQuant QuickTake platform, suggesting that Bitcoins price might soon experience a significant upward movement. These indicators include declining Bitcoin reserves on [...]

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Bitcoin price stabilizes but profitability gap points to unease

Unspent transaction outputs (UTXOs) are an integral component of Bitcoin’s structure, essentially serving as the building blocks of the blockchain. As its name suggests, each unspent transaction output represents a discrete unit of Bitcoin that hasn’t been spent, originating from the conclusion of a previous transaction. They form the foundation of Bitcoin’s ledger, tracking the […]

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Bitcoin Continues To Exit Exchanges As Supply Drops To New 2024 Low

On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins. Bitcoin Exchange Reserve Has Been Riding A Downtrend Recently As explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continued its drawdown recently. The “Exchange Reserve” [...]

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Bitcoin Breaks $64,000, But This Pattern Could Mean Bull Run Isnt Safe

On-chain data shows the Bitcoin Supply in Profit indicator has been forming a pattern recently that could put the bull run into jeopardy. Bitcoin Supply In Profit Has Seen Multiple Dips Into “Transition” Zone Recently As an analyst in a CryptoQuant Quicktake post explained, the recent “Supply in Profit” trend could suggest a potential entry into [...]

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Realized losses minimal despite 80% of STH supply being underwater

Tracking the percentage of STH supply in loss is crucial for understanding market sentiment and potential price movements. A high percentage of Bitcoin supply in loss indicates that a significant portion of recent buyers are holding positions at a loss, which can be a precursor to increased sell pressure if these holders decide to cut […]

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3 reasons why Bitcoin wont be boring in September

While Bitcoin failed to close above the $60K psychological level on the weekly chart, the long-term holders (LTHs) continue to adopt a bullish strategy in 2024.

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Bitcoin analysts converge on a breakout in September But is $86K possible?

Bitcoin could see a breakout to new all-time highs as soon as next month, but BTC must first tackle significant resistance around $59,500.

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Ether price drops 26% since ETF launch as supply increases by 60,500 ETH

The US Ether ETFs generated over $420 million worth of selling pressure for the world's second-largest cryptocurrency.

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Key Bitcoin bull signal flashes for first time in nearly 2 years, hinting at 2x price surge

The Bitcoin price could increase by over two-fold based on a key bull signal historically correlated with price rallies.

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Ethereum supply surpasses 120M ETH as staking, restaking surge

Despite Ethereums inflationary trend, staking and restaking gains momentum, boosting network security and rewards.

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US Senate recommends blockchain for national security tests

The US Senate Committee on Armed Services urges the Department of Defense to explore blockchain for national security applications, including supply chain management.

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Sen. Lummis proposes US government purchase 5% of total Bitcoin supply

The pro-crypto Senator introduced the Bitcoin Reserve Bill while declaring, This is the solution, this is the answer, this is our Louisiana purchase moment. Thank you, Bitcoin!

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Bitcoins Bullish Signal: Supply Reduction Could Boost Prices

The prominent analytical platform CryptoQuant provided details of the changing role of Bitcoin. In a recent X post, the platform noted that over the past few years, BTC has not only become a means of payment but also has become an important investment tool. The latest on-chain data presents a notable trend. The number of […]

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Chainlink (LINK) Forms Signal That Last Led To 123% Rally

On-chain data shows Chainlink has just seen a level of decline in its exchange reserve that last led to a massive rally for the cryptocurrency. Chainlink Exchange Supply Has Dropped By 1.6% In The Past Month According to data from the on-chain analytics firm Santiment, Chainlink has observed significant outflows from exchanges recently. The indicator of interest here is “Supply on Exchanges,” which, as its name suggests, keeps track of the percentage of the total circulating LINK supply that’s currently sitting in the wallets of all centralized exchanges. Related Reading: Last Resistance: Bitcoin Now Testing Final Short-Term Holder Cost Basis When the value of this metric rises, it means these platforms are receiving a net amount of deposits right now. As one of the main reasons why investors may transfer to exchanges is for selling-related purposes, such a trend can have bearish implications for the asset. On the other hand, the indicator registering a decline implies a net outflow of coins is occurring from the exchanges. Holders generally withdraw their coins to self-custody when they plan to hold into the long term, so this kind of trend can be bullish for the cryptocurrency’s price. Now, here is a chart that shows the trend in the Chainlink Supply on Exchanges over the past year or so: As displayed in the above graph, the Chainlink Supply on Exchanges has witnessed a sharp drawdown recently. More specifically, investors have withdrawn around 1.6% of the asset’s entire supply in circulation over the past month. This is a very notable decrease and suggests there is some strong demand from the whales for accumulation. The last time the metric saw a significant drop was in the early part of the year. This last decrease of 1.1% led to a LINK price rally of around 10%. In December, a similar trend was observed, with withdrawals equivalent to 0.7% of the supply resulting in a 26% jump in the coin. Both of these instances, though, saw outflows of a smaller degree than what LINK has seen recently. From the chart, it’s visible that the last time a similar percentage of supply exited these platforms was between 15th of September and 14th of October. What followed this withdrawal spree was a massive 123% surge in the Chainlink price over the next four weeks. As a similar decline has occurred again in the indicator with the exchange supply dropping from 23% to 21.4%, it’s possible that LINK could end up seeing a bullish effect this time as well. Related Reading: Solana Cooling Off After 16% Surge? TD Sell Signal Goes Off It only remains to be seen, though, if any resulting rally would be of a similar scale as that other instance, or if only a small increase will happen, like after the last two outflow streaks. LINK Price At the time of writing, Chainlink is trading around $13.9, down more than 2% over the past 24 hours. Featured image from Shutterstock.com, Santiment.net, chart from TradingView.com

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Ether price may dip after ETF 'novelty' wears off due to surging supply

Into The Cryptoverse founder Benjamin Cowen says if supply keeps increasing it will "revert" to similar levels before the Ethereum Merge in September 2022.

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NVIDIA's AI Agent Revolutionizes Supply Chain Optimization

NVIDIA introduces an AI agent using cuOpt and NIM to tackle supply chain optimization challenges, enhancing decision-making and efficiency. (Read More)

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Bitcoin Analyst Says Coin Overvalued: Why Is This BTC Chart Super Bullish?

Bitcoin is trending higher at spot rates, breaching $63,000 on June 30 before recoiling. Even though momentum is building, the action of the coin’s price is a source of debate. Still, some are doubtful, thinking there is reason for a possible overvaluation. Analyst: Bitcoin Is Overvalued, Here’s Why In a post on X, one analyst argues that the coin may likely cool off, extending the 18% drop registered in June. To conclude this, the analyst said the preview factored in several parameters, including time, the number of active Bitcoin addresses, and hash rate. Through this model, the analyst said there was reason to doubt the uptrend, dampening the spirits of optimistic holders expecting bulls to push on. As of writing, Bitcoin is back in the multi-week range with caps at all-time highs and support at $56,800 registered in May. Related Reading: Ethereum Goes Budget-Friendly: Transaction Fees Drop To Lowest Since 2016 From price action, it is clear that buyers are in charge, at least from a top-down preview. Despite the lower lows, especially in May when prices breached $60,000, bulls have a chance from a top-down preview. Notably, prices are inside a bull flag after gains in Q1 2024. However, buyers’ failure to confirm gains in mid-March is slowing down the uptrend. Buyers have failed to breach $74,000 from the daily chart, and $72,000 is a strong liquidation line. In the short term, the trend could shift if prices break out decisively above $66,000, preferably at the back of rising trading volume.         Germany Selling As BTC Gains Versus M1 Money Supply In The United States Further fueling concerns is the recent dump by the German government. On July 1, they transferred 1,500 BTC, worth over $94 million. Lookonchain data shows 400 BTC were sent to three exchanges, including Bitstamp. Though it is not immediately clear if they sold, sending them to exchange means they are keen on offloading them–a net bearish. The address associated with the German government currently holds over 44,000 BTC worth more than $2.5 billion at spot rates. Even amid these concerns, others are bullish on BTC. Citing the relationship between the United States M1 money supply and BTC prices, one analyst said the coin is priming for major gains. Looking at the chart, the analyst argues that Bitcoin has not reached a new all-time high relative to the United States M1 money supply in over six years. Related Reading: Avalanche (AVAX) Price Rallies: Can It Break Through the $30 Barrier? However, considering the steady surge in BTC prices since mid-2023, it is highly likely that bulls will take over, pushing the coin to fresh all-time highs. Feature image from DALLE, chart from TradingView

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VC Lists 2 Reasons Why Bitcoin Is Still Trending Below $100,000

Bitcoin traders are upbeat, confident that bulls have more legs to push prices above $72,000 and all-time highs. While the excitement about what lies ahead is primarily due to the mass inflow into spot Bitcoin exchange-traded funds (ETFs), Charles Edwards, the founder of Capriole Investments, has picked out multiple factors capping the current uptrend to $100,000. Here’s Why Bitcoin Is Still Trading Below $100,000 In a post on X, Edwards said several factors combine to suppress gains. However, most relate to a tussle between new institutional money and a wave of long-term holder selling. Roughly six months after the first batch of spot Bitcoin ETFs were approved by the United States Securities and Exchange Commission (SEC), billions continue to flow to these derivative products. Related Reading: Injective (INJ) Price Set To Skyrocket 33% On Classic Bullish Signal: Crypto Analyst According to Lookonchain, all nine spot BTC ETF issuers in the United States added 6,907 BTC worth over $492 million on June 6. Fidelity added 3,104 BTC, while BlackRock bought 2,186 BTC. Encouragingly, following sharp gains on May 20, institutions have been increasingly buying more BTC, gaining exposure through spot ETFs. Over the past half year or so, Edwards notes that spot Bitcoin ETF issuers in the United States have been aggressively accumulating. So far, they have bought 200% of all BTC mined since their debut in January. What this means is that there is a steady and impressive stream of institutional investment flowing to Bitcoin. BTC prices have been trending higher in response to this development, breaking above 2021 highs and printing fresh all-time highs in March 2024. Related Reading: Crypto On Watch: Will ECB Rate Cut Fuel Bitcoin Rally? Though the uptrend is clear, the pace of expansion is discouraging. Edwards notes that more and more long-term holders are actively selling. Their share of the total supply has been shrinking since the December 2023 peak of 57%, falling to 54%, reducing 630,000 BTC in the process. This figure dwarfs the total holdings of all BTC accumulated by spot Bitcoin ETF issuers in the United States. Spot Bitcoin ETF Inflows, USD Liquidity, And Long-term Holder Behavior Are Key Amid this wait, the founder thinks Bitcoin could still exceed local resistance and rally to $100,000. For this level to be tested, there must be a spike in institutional appetite for BTC, even pushing daily purchases to over $1 billion. Additionally, long-term holders must slow down their liquidation, reducing supply. If this prints out as the M2 money supply in the United States increases, the coin could surpass expectations, breaking out from the current range. Feature image from DALLE, chart from TradingView

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Oracle Recognized as Leader in Three 2024 Gartner Magic Quadrant Reports

Oracle has been named a Leader in the 2024 Gartner Magic Quadrant for Transportation Management Systems, Supply Chain Planning Solutions, and Warehouse Management Systems. (Read More)

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What is an infinite mint attack, and how does it work?

Learn about the devastating infinite mint attack in cryptocurrency. Understand how hackers exploit vulnerabilities to create unlimited tokens, causing massive inflation and price crashes.

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